Open Houses 2/16/2014

This Sunday in Lake Oswego there are 17 open houses scheduled, including my own at 4216 Albert Circle. This is a great house, all on 1-level, with some great features for $459,000. I’ll be there from noon to 2pm. You’ll find my directional signs on Bryant Rd. Please come on by!

Last fall
Last fall
Address Price Type Bedroom Bath Open
6397 McEwan Rd $289,900 Detached 3 2 2 to 4
720 8th St $425,000 Detached 3 2 1 to 3
4216 Albert Circle $459,000 Detached 3 2 12 to 2
4109 Wolf Berry Ct $519,000 Detached 4 2.5 1 to 4
1428 Pine St $550,000 Detached 3 3.5 1 to 3
1830 Cloverleaf Rd $598,000 Detached 3 2.5 2 to 4
363 6th St $599,900 Attached 3 3.5 1 to 4
18020 Jenifers Way $609,881 Detached 4 2.5 1 to 4
19524 River Run Dr $618,950 Detached 4 2.5 1 to 3
14113 Amberwood Circle $684,000 Detached 4 2.5 1 to 3
13528 Twin Creek Ln $689,900 Detached 4 3.5 1 to 3
18982 Bryant Rd $719,900 Detached 4 3.5 1 to 3
1640 Oak St $725,000 Detached 4 2.5 12 to 3
67 Nansen Summit $1,050,000 Detached 6 4 2 to 4
316 Ridgeway Rd $1,225,000 Detached 4 3 2 to 4
17342 Ridgeview Ct $1,250,000 Detached 4 3.5 1 to 3
1345 Cherry Ln $1,295,000 Detached 5 3.5 1 to 4

Featured Home: 4216 Albert Circle

Last fall
Last fall
It is a pleasure to share with you this gorgeous house at 4216 Albert Circle. This house is located in the Bryant Neighborhood, a well-established and quiet area that is close to Lakeridge Junior High School.

Today
Today
The house was built in 1980. It has a floor plan that is perfect for entertaining with rooms flowing one to another without dead-ends. There are expansive vaulted ceilings with 7 solar tubes to let in lots of natural light. There is a 2-sided fireplace that opens on one side to the family room and on the other side to a cozy inglenook in the living room.

The kitchen has been tastefully remodeled with tile backsplash, composite “Riverbed” counters, a garden window, and a pantry. The eat-in nook has wainscoting.

The house has 3 bedrooms, including a large master suite. The master suite has a full bath with double sinks and a walk-in closet.

Vaulted Living Room
Vaulted Living Room
With gas heat and central air, you’ll stay warm in the winter and cool in the summer. There is also circulating hot water for instant hot water from every tap. The circulation is on a timer for energy efficiency.

The house has great storage inside as well as in a full wall of cabinets in the garage.

I think what I like best about this house is the garden. It has been lovingly cared for and is beautifully landscaped. It is level and fully fenced. I am including photos I took last fall so that you can see the house at it’s prime.

Kitchen
Kitchen
Offered at $459,000, the house has 2130 square feet.

I will be holding this house open this Sunday, February 16th, from noon to 2pm. I hope you will come on by!

Market Activity Report ~ Feb 3-9, 2014

Hello to all our Property Blotter Readers!  Apologies for taking a break during last week’s “Snowpocalypse”  : )  But as usual, we weathered it just fine, and got to enjoy some snow days & down time for a short spell.  Dianne and I were out with our winter tires  though, sloshing & sliding through the snow to keep Inspection Appointments etc.  With all that weather fun, real estate keeps rolling right along (though Open Houses were significantly affected : )

Here is your Latest Market Data: Last week in Lake Oswego we saw 12 New properties enter the market, 19 move to Pending status, and 3 “Closed”/Sold.

Following is the breakdown according to RMLS:

NEW on MKT (Feb 3-9, 2014)

Address List Price # Beds # Baths Total SF Prop Type
12743 ALTO PARK RD $299,500 2 2 1228 DETACHD
17653 MARDEE AVE $349,000 3 2 1742 DETACHD
4216 ALBERT CIR $459,000 3 2 2130 DETACHD
312 2ND ST $480,000 3 3.1 1938 ATTACHD
14113 AMBERWOOD CIR $684,000 4 2.1 3514 DETACHD
15519 VILLAGE DR $699,500 3 2 2274 DETACHD
18982 BRYANT RD $719,900 4 3.1 3438 DETACHD
1640 OAK ST $725,000 4 2.1 3301 DETACHD
630 8TH ST $995,000 4 2.1 2832 DETACHD
3727 UPPER DR $1,000,000 3 3.1 4731 DETACHD
163 IRON MOUNTAIN BLVD $1,429,000 4 3.1 4314 DETACHD
3690 LAKEVIEW BLVD $3,950,000 5 5.1 6366 DETACHD

PENDING SALES (Feb 3-9, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
10 CERVANTES CIR $118,000 2 1.1 912 CONDO 18
13060 Elk Rock RD #A $175,000 1 1 502 DETACHD 21
15491 BRIANNE CT $224,900 2 2.1 1208 ATTACHD 7
2286 SW Wembley Park RD $319,900 3 2 1300 DETACHD 8
4730 LAMONT CT $349,900 3 2 1676 DETACHD 0
26 BRIARWOOD RD $375,000 4 2.2 2554 DETACHD 199
231 LAUREL ST $430,000 3 3 2244 DETACHD 85
17366 CARDINAL DR $465,000 4 2.1 2107 DETACHD 3
6150 KENNY ST $465,000 3 1.1 1989 DETACHD 7
13060 ELK ROCK RD $474,900 4 3 3581 DETACHD 144
1 PREAKNESS CT $490,000 4 3 2373 DETACHD 146
623 ATWATER RD $549,000 3 2.1 2009 DETACHD 5
55 AQUINAS ST $574,900 5 3 3720 DETACHD 19
5831 SUNCREEK DR $615,000 4 2.1 2865 DETACHD 135
141 DEL PRADO ST $625,000 4 2.1 2788 DETACHD 7
1931 PARK FOREST CT $629,000 5 4.1 3866 DETACHD 979
5023 WOODCREST LN $630,900 4 2.1 3040 DETACHD 0
19333 RIVERWOOD LN #104 $630,900 4 2.1 3110 DETACHD 0
13310 ATWATER LN $1,249,900 5 4 5697 DETACHD 252

SOLD (Feb 3-9, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
13374 HIDDEN BAY CT $699,000 $665,000 4 2.1 3172 DETACHD 98
13080 THOMA RD $875,000 $700,000 3 2 2810 DETACHD 194
425 G AVE $1,400,000 $1,400,000 4 2.2 3890 DETACHD 91

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

Market Activity Jan 27-Feb 2, 2014

Last week in Lake Oswego brought us 18 new listings, 11 pending sales, and 11 closed sales.

Here is the breakdown according to RMLS:

New on the Market(Jan 27-Feb 2, 2014)

Address Type Price BR Bths SF
167 Oswego Summit Condo $159,900 2 2 1506
165 Oswego Summit Condo $199,900 2 2 1383
15491 Brianne Ct Attached $224,900 2 2.5 1208
16200 Pacific Hwy #35 Condo $299,000 2 2 1208
15115 Twin Fir Rd Detached $429,000 3 2 1392
4729 Lakeview Blvd Detached $450,000 3 2.5 2490
6150 Kenny St Detached $465,000 3 1.5 1989
319 3rd St Attached $507,000 3 3.5 1937
880 Woodway Ct Detached $525,000 4 3 3478
14232 Meadow Grass St Detached $619,000 4 3 2965
141 Del Prado St Detached $625,000 4 2.5 2788
53 D Ave Detached $665,000 3 3 2600
13528 Twin Creek Ln Detached $689,900 4 3.5 3171
19233 Indian Springs Rd Detached $714,000 4 4.5 3509
2167 Wembley Park Rd Detached $1,199,000 4 3.5 4015
316 Ridgeway Rd Detached $1,225,000 4 3 3877
50 Briarwood Rd Detached $1,248,000 6 6 7773
2410 Summit Ct Detached $1,650,000 3 3.5 3750

Pending Sales (Jan 27-Feb 2, 2014)

Address Type Price BR Baths SF DOM
4 Touchstone #136 Condo $159,500 3 2.5 1351 1
3101 McNary Pkwy #12 Condo $179,900 2 2.5 1726 92
17 Greenridge Ct Attached $275,000 3 3 1900 7
12894 Boones Ferry Rd Condo $294,500 2 2.5 1136 66
5077 Sunset Dr Attached $359,000 2 2.5 1720 143
87 Ash St Detached $399,900 3 2 2442 227
2710 Greentree Rd Detached $417,500 4 3 3172 11
12870 Elk Rock Rd Detached $449,900 4 2 2794 620
15956 Parker Rd Detached $579,900 4 2.5 3200 11
14 Del Prado St Detached $583,000 3 3.5 4094 244
3826 Upper Dr Detached $739,900 4 2.5 3194 91

Sold (Jan 27-Feb 2, 2014)

Address Type List Price Closed Price Sq Ft CDOM
45 Eagle Crest Dr #501 Condo $208,000 $176,900 1348 468
1120 Boca Ratan Dr Attached $260,000 $260,000 1611 8
10 Juarez Detached $525,000 $510,000 3740 161
3435 Lake Grove Ave Detached $595,000 $572,500 2,618 76
14353 Trillium Ct Detached $625,000 $615,000 3057 9
113 Furnace St Condo $635,000 $625,000 2154 34
14144 Kimberly Circle Detached $649,900 $649,000 3824 7
5185 Woodcrest Ln 24E Detached $643,098 $649,239 2500 1
2070 Wembley Park Rd Detached $998,000 $802,000 4935 436
800 Terrace Dr Detached $1,349,000 $1,300,000 5166 98

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

Open Houses 2/214

It may be Superbowl Sunday, but kick off isn’t until 3:30. So there’s plenty of time to take in one of these great open houses. Enjoy!

Address Price Type Bedroom Bath Open
16200 Pacific Hwy #35 $299,000 condo 2 2 12 to 2
4109 Wolf Berry Ct $519,000 detached 4 2.5 12 to 3
1830 Cloverleaf Rd $598,000 detached 3 2.5 12 to 2:30
14232 Meadow Grass St $619,000 detached 4 3 1 to 4
17632 Woodhurst Pl $648,950 detached 5 4.5 12 to 2
1273 Wells St $799,000 detached 4 3 12 to 3
19463 Lorna Ln $899,800 detached 4 3.5 1 to 4
316 Ridgeway Rd $1,225,000 detached 4 3 12 to 2:30

Featured Neighborhood: Hallinan Heights

Hallinan Heights
Hallinan Heights
Lake Oswego has 25 individual neighborhoods and this week we are going to feature Hallinan Heights. Both Linda and I love this neighborhood, there is just something about it.

I think it’s unique boundaries are part of why it is so great. It is clearly defined by the Willamette River to the East, Oswego Creek and McVey to the North, Cornell Rd to the West, and Upper Cherry Rd to the South. It’s not a large neighorhood, but within it is a wonderful Elementary School and a very nice Park. It has a real feeling of community where people walk their dogs and picnic.

Hallinan Elementary School
Hallinan Elementary School
My kids did not live within the Hallinan Elementary School attendance area, but the play ground at Hallinan Elementary was hands down their favorite. We would drive across town to play on it. It’s a BIG playground with a great variety of equipment. As my kids got older, I learned to love it because it is adjacent to the playing field which has a great walking trail around it. So my kids could be playing and I could be taking a nice walk within sight of them.

The real estate in Hallinan Heights includes one very nice condominium complex on the Willamette River, Oswego Terraces. Built in the 1950’s, these mid-century buildings are solid and sleek. There are currently 3 condos for sale in the mid $250,000’s. While none of the waterfront units are currently for sale, when they do come along they boast some of the finest river views in the entire metro area. The complex is uniquely situated on a curve in the river that looks directly North to downtown Portland.

Wide Streets
Wide Streets
Most of the single family homes were built in the 1960’s and 1970’s. The wide streets have well landscaped and tidy yards. There are currently 8 homes for sale. The least expensive is 2442 square feet, all on one level, and is listed for $399,900. The most expensive is 3700 square feet of new construction with river and mountain views for $1,225,000.

My final boast for Hallinan Heights is that it is close to downtown Lake Oswego. Whether you want quick access to great restaurants, or you want to walk along the river at George Rogers Park, you are right there. I would estimate that you could walk to the Farmer’s Market at Millenium Plaza Park within about 20-30 minutes. Nice!

Do not hesitate to contact Linda or myself if you would like more information.
Dianne

Market Activity Report ~ Jan 20-26, 2014

Last week in Lake Oswego we saw 17 New properties enter the market, 25 move to Pending status, and 35 “Closed”/Sold.

Here is the breakdown according to RMLS:

NEW on MKT (Jan 20-26, 2014)

Address List Price # Beds # Baths Total SF Prop Type
65 OSWEGO SMT $146,000 2 2 1140 CONDO
149 OSWEGO SMT #149 $159,900 2 2 1212 CONDO
155 OSWEGO SMT $199,900 2 2 1506 CONDO
16250 PACIFIC HWY #71 $254,900 2 2 1380 CONDO
17 GREENRIDGE CT $275,000 3 3 1900 ATTACHD
16227 KIMBALL ST $344,950 4 2.1 1572 DETACHD
2710 GREENTREE RD $417,500 4 3 3172 DETACHD
1638 PINE ST $494,000 5 2 3160 DETACHD
18360 SW TUALATA AVE $549,900 5 2.1 2703 DETACHD
1830 CLOVERLEAF RD $598,000 3 2.1 1857 DETACHD
214 GREENRIDGE DR $599,900 6 4 3714 ATTACHD
17632 WOODHURST PL $648,950 5 4.1 4423 DETACHD
17479 BROOKHURST DR $729,000 4 2.1 3552 DETACHD
96 GARIBALDI ST $789,000 3 3.1 4819 DETACHD
1273 WELLS ST $799,000 4 3 4091 DETACHD
755 6TH ST $995,000 4 3.1 4170 DETACHD
778 CABANA LN $2,295,000 3 3 3343 DETACHD

PENDING SALES (Jan 20-26, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
200 RIDGEWAY RD $175,000 2 1 988 CONDO 33
45 EAGLE CREST DR #501 $179,900 3 2 1647 CONDO 468
3894 BOTTICELLI ST $184,900 2 1.1 1132 CONDO 68
48 EAGLE CREST DR #1B $195,000 3 2 1623 CONDO 91
6321 ALYSSA TER $275,000 3 2.1 1546 ATTACHD 5
1733 Kilkenny RD $309,900 3 1.1 1654 DETACHD 219
5687 BONITA RD $310,000 3 2.1 2048 DETACHD 40
4256 COUNTRY WOODS CT $338,950 4 2.1 1560 DETACHD 1
6 PHEASANT RUN $339,900 3 2.1 1734 DETACHD 14
18341 FERNBROOK CT $369,999 4 2 1872 DETACHD 75
18385 WOOD THRUSH WAY $373,000 3 2 1832 DETACHD 5
1880 KILKENNY DR $400,000 4 3 2778 DETACHD 66
15481 TANAGER DR $405,000 3 2.1 2064 DETACHD 143
67 TANGLEWOOD DR $434,900 4 2.1 3068 DETACHD 163
17200 ROBB PL $439,000 3 2.1 2218 DETACHD 8
4741 CAMBRIDGE CT $467,000 2 2.1 2861 ATTACHD 5
4002 TEMPEST DR $539,900 4 3.1 4319 DETACHD 8
5616 GRAND OAKS DR $550,000 4 3 3096 DETACHD 65
885 LAKE FOREST DR $575,000 4 3 2186 DETACHD 80
5004 WOODCREST LN #16E $589,900 3 2.1 2523 DETACHD 73
15713 TARA PL $615,000 4 2.1 3442 DETACHD 19
18994 BRYANT RD $649,900 4 2.1 3146 DETACHD 454
420 RIDGEWAY RD $849,900 2 2 2190 DETACHD 316
2135 RIDGE POINTE DR $1,075,000 5 4.2 6755 DETACHD 216
17322 CEDAR RD $1,149,500 4 4.1 3370 DETACHD 14

SOLD (Jan 20-26, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #13 $85,900 $83,300 1 1 617 CONDO 89
18 WHEATHERSTONE $295,900 $295,900 3 2.1 1692 CONDO 138
4912 LOWER DR $339,000 $355,000 3 2 1539 DETACHD 4
13036 SIERRA CT $549,900 $485,000 3 2 2214 DETACHD 80
5522 ROYAL OAKS DR $683,500 $580,000 4 2.1 2471 DETACHD 177

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

News & Notes

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

For 2013 the overall Portland area saw 27,065 Accepted Offers, and 24,872 Closed Sales which is up 12.7% from 24,010 Accepted Offers (Pendings) and 14.3% from 23,438 Closed Sales during 2012. Though Closed Sales decreased from November 2013 by 2.1%, December had the most Closed Sales since 2006!

According to the RMLS Market Action Report for the Portland Metro Area  December, 2013:

  • At 1,782, December Closed Sales are 1.3% ahead of December 2012.
  • There were 1,333 New Listings in December. This was a decrease of 32.5% from this November, and an increase of 3.7% over December of 2012.
  • The Average Sale Price in December was $308,100, down from $318,100 in November 2013.
  • December Pending Sales (accepted offers) dropped by 18.8% compard to this November.

The combined areas of Lake Oswego and West Linn  for December reported:

    • 379 Active Listings
    • 58 New Listings
    • 76 Pending Sales
    • 83 Closed Sales
    • An average Sale Price of $463,500.
    • Average Time on the Market: 113 Days

Market Activity Jan 13-19, 2014

Last week in Lake Oswego there were 16 new listings, 16 pending sales, and 6 closed sales.
Here is the breakdown according to RMLS:

New on Market (Jan 13-19, 2014)

Address Type Price BR Bths SF
47 Eagle Crest Dr #48 Condo $104,900 1 1 696
10 Cervantes Circle Condo $125,000 2 1.5 912
4 Touchstone #128 Condo $154,900 3 2.5 1350
13060 Elk Rock Rd "A" Detached $175,000 1 1 502
181 Oswego Summit Condo $185,000 2 2 1383
17200 Robb Pl Detached $439,000 3 2.5 2218
1653 Devon Ln Detached $469,000 4 3 3181
13057 Sierra Vista Dr Detached $489,000 4 2.5 2510
4002 Tempest Dr Detached $539,900 4 3.5 4319
16158 Inverurie Rd Detached $559,900 4 2.5 2377
55 Aquinas St Detached $574,900 5 3 3720
4311 Orchard Way Detached $585,000 3 2.5 3010
13100 Boones Ferry Rd Detached $695,000 3 2.5 2370
3 Creekside Ter Detached $750,000 4 3.5 4355
19415 Sycamore Ave Detached $879,900 4 2.5 2188
820 Fairway Rd Detached $1,200,000 4 3.5 3758

Pending Sales (Jan 13-19, 2014)

Address Type Price BR Baths SF DOM
4 Touchstone #123 Condo $139,900 3 2.5 1351 4
3433 McNary Pkwy #702 Condo $164,500 2 2.5 1136 149
6397 McEwan Rd Detached $289,900 3 2 1008 127
15360 Twin Fir Rd Detached $314,900 3 1 1020 4
4690 Lower Dr Detached $339,900 3 2.5 1596 6
5057 W Sunset Dr Attached $349,900 2 2.5 1720 32
72 Weatherstone Condo $356,500 4 3.5 2465 84
572 2nd St Attached $379,900 2 2.5 1394 3
1230 Hallinan Cir Detached $380,000 3 2.5 1822 2
4401 Oakridge Rd Attached $400,000 2 2.5 1692 172
1228 Hallinan Cir Detached $450,000 3 2 1932 3
1491 Koawood Dr Detached $489,900 4 3 2510 29
2814 Vale Ct Detached $629,000 4 3 3192 70
18325 River Edge Ln Detached $899,995 3 3.5 4115 84
881 C Ave Detached $969,000 4 2.5 3128 0
17600 Upper Cherry Ln Detached $998,000 4 3.5 3900 283

SOLD (Jan 13-19, 2014)

Address Type List Price Closed Price Sq Ft CDOM
16775 Lake Forest Blvd Detached $287,000 $270,000 1544 61
5523 Royal Oaks Dr Detached $200,000 $300,000 1817 501
924 Laurel St Detached $360,000 $336,650 1965 62
17940 Meadowlark Ln Detached $499,000 $438,000 2,508 143
18064 Jenifers Way Detached $639,950 $635,000 2965 28
17700 Lake Haven Dr Detached $1,579,000 $1,600,000 4006 36

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

Important Changes in 2014

xstreetsignThe coming of the new year brings with it some changes that may affect you as you buy or sell a home. I am going to touch upon 2 of them.

The Dodd Frank Wall Street Reform and Consumer Protection Act

The intention of this legislation is to reign in predatory lending and safe guard our housing market from a collapse like we experienced in 2007. What it does is tighten up mortgage guidelines. This means verification of assets, having a strong credit score, and not making loans to people who can not realistically pay them back. The legislation went into affect on January 10, 2014, but lenders have been putting the guidelines into place for some time.

What this means to you is that you really do need to qualify for a mortgage. It also means that paperwork will be more extensive and processing your loan will take time.

I think it also means that it is more important than ever to get pre-approved BEFORE you make an offer on a house. Line up your financing in advance and you will have less stress while in escrow.

The Mortgage Debt Forgiveness Relief Act has Expired

In 2007, Congress passed this act to give tax relief to distressed home owners. Basically, the IRS considered any forgiveness of debt to be income upon which you were taxed. So if you sold your house with a shortsale (selling it for less than what you owed), did a deed in lieu of foreclosure, or restructured you debt, you could be required to pay taxes on any debt not repaid. The Mortgage Debt and Forgiveness Relief Act waived this taxation. This was a huge boon to helping distressed home owners. The act expired n 2012 but was extended for a year and now expired at the end of 2013.

Congress has not extended it. It is not looking promising that they will either.

This means that if you are facing the option of doing a shortsale, a loan modification, or a deed in lieu, you need to talk to a good tax accountant first. Do not get involved in any of these scenarios without good tax counsel. I also want to recommend good legal counsel.

Speaking of legal counsel, I was inspired to write this post after reading Kate Brooke’s newsletter. Kate is a local attorney with extensive real estate experience. To contact her, click here.

I hope you find this information useful.
Dianne